-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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Public employees should be required by law to be on the ACA health care system. If they want private insurance THEY should pay for this NOT the taxpayers. It costs us plenty to provide for our own insurance premiums let alone pay for someone else’s just because they made backdoor behind closed door deals and stuck the taxpayers with the bill.. P.S. They negotiated Cadillac plans while many can only afford YUGO and VEGA plans or Trabant ?